DataQuick’s homebuying stats for April are out, and they show a real estate market still on the mend with sales of all residences of 2,669 — that’s up 11.60% in a year and the best April in 3 years. Median selling price was $430,000 — up 13.2% in a year. Also …
Slice Price Yr. ago Sales Yr. ago Houses $505,000 +17.4% 1,704 +9.7% Condos $299,000 +16.6% 877 +18.7% New $629,500 +32.8% 88 -11.1% All O.C. $430,000 +13.2% 2,669 +11.6%
- $430,000 median selling price that is still 33% below June 2007’s peak of $645,000.
- The most recent median is 16% above the cyclical low hit in January 2009 at $370,000 — a current bottom that was -43% below the peak.
- Prices fell on a year-over-year basis from Sept. 2007 through August. (Worst at -31.5% in August 2008.)
- Single-family homes resell for 31% less than their peak pricing (June ‘07) while condos sell 36% below their peak in March 2006. Builder prices for new homes are 27% below their February ‘05 top.
- Single-family homes were 69% more expensive than condos in this period vs. 68% a year ago. From 1990-2008, the average house/condo gap was 57%.
- 2,669 residencessold in April vs. 1997-2006 monthly sales average of 4,304 per month.
- Builder’s new homes sales were 3% of all residences sold in the period vs. 4% a year ago. From 1990-2008, builders did 15% of the selling.
May 18th, 2010, by Jon Lansner of the Orange County Register
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